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Latest Tokyo Brief coverage on Tokyo Electric Power Company Holdings, Incorporated, tracking filings, financial news, and market signals from Japan.
TSE:9501
Tokyo Electric Power Holdings booked a ¥34.3bn operating loss for the quarter through June as fuel and wholesale power costs pushed its retail and grid businesses into the red, and the utility still isn't giving a full-year profit forecast.
The move: TEPCO’s 13-director slate was approved, but 190 shareholders used the annual meeting to press a charter amendment for a Kashiwazaki-Kariwa accident fund, revised from ¥23.4tn to ¥3.8tn and designed to be funded through customer electricity charges.
Tokyo Electric Power has drawn another ¥34.4bn from the Nuclear Damage Compensation and Decommissioning Facilitation Corporation, the 170th funding delivery tied to Fukushima compensation. The company said payments due by end-July will exceed the ¥11.5122tn it had already received from the body and the ¥188.9bn received under the compensation law. The transfer sits under the revised special business plan approved on March 31, which is a bureaucratic way of saying the pipeline is still very much open.